It’s that time of the year again! Your Incurred Costs Submission has been submitted for the prior fiscal year and now it’s time to start looking ahead. Are you going to be as profitable as the year prior? Is there any opportunity to expand office space to bring on additional resources? How will my vision of the future impact my company financials in six months, 12 months or longer?
Financial management is multi-phased process that can involve various partners from within your organization, each with their own objectives and visions. We recommend combining “Direct” project budgets from your PMs, “Indirect/Fringe/Leave” project budgets from your operations team and “New Business” projected budgets from your business development teams to develop a successful road map for the future of your business.
While utilizing Planning as your single source solution to view posted data from Costpoint and unposted data from T&E, you can develop various Project Budgets. After all parties have completed their respective project budgets, you can seamlessly upload Labor (Direct & Indirect), Non-Labor (Direct & Indirect) and Revenue in an overall company organizational budget. This projected organizational budget will provide visibility in the projected cost pool rates based on current Direct and Indirect project budget metrics.
Contact us today for more information on how we can assist with your budgeting and planning process!